A PYMNTS Company

India: Builders go to CCI against cement companies

By  |  October 6, 2015

The fight between builders and cement manufacturers has reached the Competition Commission of India (CCI), the fairplay watchdog. The Confederation of Real Estate Developer’s Associations of India has filed a complaint with CCI against cement manufacturers, accusing them of unduly increasing the cost of cement.

In its submission, CREDAI has said the cost of raw material used in manufacturing the cement has come down from January 2015, but the cement companies have increased prices, instead of passing the benefit.

Despite low demand, the prices of cement have jumped by 20-40 % in all major cities over the last few months.”Despite reduction in the cost of raw material for cement production since January 2015, the cement manufacturers indulge in practices that control the prices of cement,” Credai national president Getamber Anand said.

Full content: CemNet

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.